Internal Revenue Service United States Department of the Treasury
Level Basic Advanced Military International

Income — Retirement Income; Form 1040, Lines 15-16

Taxable IRA Distributions

Individual Retirement Arrangements (IRAs)

IRA distributions are reported on Form 1099-R with a check in box 7. Earnings and investment gains in a taxpayer's IRA generally accumulate tax-free or tax-deferred until they are withdrawn as fully or partially taxable distributions.

There are four kinds of IRAs, each with different tax implications:

  • Traditional IRA
  • Roth IRA
  • Savings Incentive Match Plans for Employees (SIMPLE) IRA
  • Simplified Employee Pension (SEP) IRA